One of the fastest ways to get results in luxury real estate is to go after the low-hanging fruit. Now, I don’t mean going after cheaper houses, what I want…
Agents work incredibly hard to make it in the ever-changing world of real estate. We keep up to date on the latest market trends. We buy ourselves expensive courses and seminars to learn from top industry experts, and we even sacrifice our children’s weekend sporting events and barbecues with the family to show houses.
It seems like there is always something left on our growing to-do lists. And maybe this is just the way that real estate is supposed to be. However, I really believe that most people have no idea how many hours we work, or what kind of stress goes into working on deals that are worth hundreds of thousands of dollars or more!
The industry is currently undergoing some changes, and I think some of the new systems in place may make agents even more valuable. However, I think everyone has put up with clients who don’t really get what an agent does. I mean, I’m sure we’ve all felt like our work wasn’t appreciated from time to time. And on the other hand, sometimes clients are beaming with appreciation for our help and expertise.
The bottom line is that we are constantly on the clock, trying to make deals go through, guiding clients through key decisions, and helping our clients to get exactly what they are looking for in their real estate sale or purchase.
That’s why I absolutely never haggle on commission–it just isn’t worth it!
Clients are value focused, but also budget-minded.
Some clients will want or even demand that in order to get their listing you must reduce your commission.
My answer is always
“Real estate agents are next.” So read the headline of a 2006 blog post by Jeff Jarvis, a University of New York professor who examines the effects of the Internet…
Despite all the difficulties in selling a home, even in a hot market, there’s still one final thing you need to decide. Banish all trace that your dog, cat, or…
Every agent wants to learn how to be more productive. You may go to a seminar on how to grow your geographic farm, or how to get more quality leads and referrals in half the time. Maybe you’ve even spent several thousand dollars on a weekend event that promised to help you 10x your business this year.
All of these activities are great, and I am a huge advocate for taking your real estate skills and education up to the next level.
However, I’m not a fan of doing more work for more small commissions.
I’m a much bigger fan of doing the same amount of work for more large commissions–think $50,000+ per sale.
According to the US Census website the average price of a new home in 2017 has shot up to just above $400,000. That means that each time that you sell a new home you are going to earn between $10,000 and $20,000 in commission (but only if you represent both sides of the deal).
According to Indeed’s marketplace research the average real estate agent makes between $40,000 and 70,000 per year.
The market is ready for you to become the best in your local area. If you aren’t sure what I mean, just check your Facebook feed. Every realtor who is qualified to represent buyers and sellers has the same ability as you to showcase their brand and services on social media.
But you can’t win clients by being average. You have to